"The thing about democracy, beloveds, is that it is not neat, orderly, or quiet. It requires a certain relish for confusion." - Molly Ivins

August 08, 2010

Branded Virtual Goods set for explosive growth

This week Viximo and Virtual Greats issued the first major industry report on branded virtual goods, predicting that the branded segment of the virtual goods market will be worth $150 million by 2013, an annual growth rate of 113%.

Branded virtual goods represent a nascent market, holding less than 1% of the booming virtual goods marketplace.…but the forecast shows the incredible growth to come year over year.

At WeeWorld our passionate userbase of 2 million teens per month, display tremendous purchase intent for branded items. Teens flock to WeeWorld to express themselves through their WeeMee avatars, play games, meet friends and chat in our virtual world. Each and every day they beg us for branded items that can help them reflect their real world affiliations and styles in the virtual space.

How popular are branded items? Here is a glimpse from the report:

"According to WeeWorld, a social game and virtual world with a global audience of more than 36 million registered “WeeMee” avatars, unit sales of Snoop Dogg branded items are 2.5 times higher than the highest selling non-branded, comparably priced item. In addition, sales of Snoop Double Doggs (which fall into the category of branded pets called “Cweetures”) are 5 times higher than the highest selling non-branded pet. Since all WeeMee avatars are created equal and do not feature special functionality (i.e. they are vanity-only items) it is clear that Snoop Dogg’s own brand equity is the driving factor behind the increased desirability for these virtual goods that draw from his likeness."